SilverBox Engaged Merger I announced today that it expects to close its business combination with Authentic Brands, parent company of Black Rifle Coffee Company.
The SPAC in a news release said proxies received to date indicate the deal will pass at the shareholder meeting tomorrow. Regardless, SilverBox indicated it has more than enough funding to satisfy the deal’s minimum cash condition.
The deal is expected to deliver at least $373 million in gross proceeds to Black Rifle Coffee. Pending the outcome of the meeting, the transaction is expected to close Feb. 9.
Black Rifle Coffee will trade on the New York Stock Exchange under the ticker symbol BRCC. Read more.
